07 February 2013 08:20 [Source: ICIS news]
SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp (FPCC) has bought by tender around 100,000 tonnes of spot naphtha supply for delivery to Mailiao in the second half of March, traders said on Thursday.
The deals for the cargoes were done at a premium of about $24/tonne (€17.80/tonne) to Japan quotes CFR (cost & freight), they added.
Meanwhile, FPCC is running its crackers at 95% capacity in February, traders said.
In its previous tender, FPCC bought around 150,000 tonnes of spot naphtha for delivery to Mailiao in the first half of March. The deals for the cargoes were done at a premium of $15-16/tonne to Japan quotes CFR.
The premiums increased on the back of tight supply and strong demand, traders said.
FPCC operates a 700,000 tonne/year No 1 cracker, a 1.03m tonne/year No 2 cracker and a 1.2m tonne/year No 3 cracker in Mailiao.
($1 = €0.74)
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